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Weekly: Masoor/Chana Gains On Rumors Of Import Duty/Ban

11 Nov 2017 5:38 pm
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MUMBAI (Commoditiescontrol) – Imported White Pea moved up during the week (Nov 6 – 11) as Indian Government has imposed 50% import duty on Yellow Peas. Similarly, Imported Chana and Masoor traded higher On the rumors Of duty/import ban. While, Tur and Urad remained weak amid dull trade. Whereas, Moong remained flat on slow buying support and regular arrivals.

Week Highlights

# India rabi pulses sowing is up by 40.26 % as on November 10 on 63.79 lakh ha vs 45.48 last year at the same period. Chana : 47.20 vs 32.93, Masoor : 6.82 vs 3.91, Field Pea : 3.76 vs 3.25, Urad:1.17 vs 1.06, Moong : 0.24 vs 0.22,Other Pulses: 1.37 vs 1.
# Cabinet approves utilization of pulses from the buffer stock through Central Government Schemes having nutrition component.
# The government of India has decided to discontinue the relaxation of penalty for pulses consignment with Bill of Lading (BoL) from Canada without Methyl Bromide fumigation after September 30, 2017.
# Maharashtra Government Needs To Avail Storage Spaces For Tur Before Arrival of Fresh Crop.
# MMTC Invites E-bids For Sale Of 5000 MT Mozambique FAQ Tur 2016 In Visakhapatnam. Tender Open/Close 9 Nov Valid Up to 12 November.
# MMTC Invites Bid For Sale Of 4055.64MT Tur Whole FAQ 2016-17 (Africa) & 2491.56MT Red Masoor 2016 (Canada) lying at CWC-Mundra. Tender Open/Close 19 Nov.
# MMTC invites bids for sale of 5000MT(+/-5%) Canada Red Masoor (2016) In Kolkata. Tender close on 7Nov Valid up to 10 Nov 2017.

Burma Lemon Tur:

Burma origin Tur Lemon variety remained weak by Rs.50-75 at Rs.3,700/100Kgs amid dull buying despite cheaper rates/ low stock. Millers were preffering to crush domestic Tur due to better quality and lower prices. Demand in Tur dal was reported to be sluggish. Government liquidation of old stock of Tur in Karnataka, Maharashtra and Gujarat at lower rates added downward pressure on price.

Similarly, Prices of processed Tur offered weak by Rs 50-100/100Kg due to sluggish buying support from Wholesalers/Retailers counters. Millers were active to liquidate their dals stock in the market. In Maharashtra, processed Tur Phatka Sortex quality priced at Rs 5,600/100 Kg, semi-Sortex at Rs 5,450 and regular at Rs 5,200.

Gujarat origin Wasat Phatka variety eased at Rs 5,900-6,000/100Kg, Latur origin at Rs 5,600-5,700 and Jalna origin at Rs 5,800-6,000/100Kg.

According to Gulbarga based trader, millers and traders were sidelined as there is too much fluctuation of Tur prices.Further Market men are not sure to what extent government can support the prices by procuring the new crop given the fact government is holding huge quantity procured in last crop year and may find it difficult to get addtional godaown space to store new procured crop.

Prices are expected to move up in near term as much of the stock is with goverment and till now we have not seen agressive selling from goverment agencies and private players have very limited stock which they are unwilling to liquidate at prevailing rates .These factors could support prices to some extent. But sluggish demand for Tur dal because of limited buying by retailers and wholsellers and sesonal dip in demand for Tur dal in winter due to cheap availability of vegetables and preference for non veg food items (These are substitute for Tur).
Burma Urad:

In Mumbai, Burma origin Urad FAQ variety declined by Rs 50 to Rs 3,700/100Kg in Mumbai following sluggish millers buying, regular arrivals and adequate stocks position.

Traders said slow off take of Urad Dal from wholeseller and retailers restricted demand for Urad for Dall millers further ample stock and arrival pressure of new crop kept prices under pressure.

Millers were crushing new domestic Urad as they were getting superior and dry quality at cheaper rates.

However, demand in processed Urad remained subdued at existing rates. Bikaner origin branded Urad dal price offered at Rs 4,900-5,000/100Kg. Tiranga brand of Mumbai at Rs 5,600/100Kg. Parivar brand of Jalgaon at Rs 5,400/100Kg.

Procurement of new Urad by government has gathered pace, at Minimum Support Price (MSP) (Rs 5400) in Rajasthan, Karnataka, Maharashtra and Telangana.

At Chennai, Urad FAQ and SQ variety also fell by Rs 50 to Rs 4,050/100Kg and Rs 5,350 respectively as sellers were active in the market despite stock of imported Urad is depleting.

Statewise rabi Urad sowing up 10.38 % as on Nov 8 Vs Same Period Last Yr (LAKH HA). Andhra Pradesh:0.23 Vs 0.35, Tamil Nadu:0.75 Vs 0.39, Odisha:0.17 Vs 0.23. Total:1.17 Vs 1.06.

Chana Kantewala (Indore):

In Indore market, Chana priced eased by Rs 50 at Rs 4,500-4,550/100Kg on absence of physical buying support, higher progressive sowing despite slow domestic arrivals.

On other hand, Australia origin Chana at Mumbai and Mundra port gained by Rs 150 to Rs 5,100/100Kg respectively On rumors of duty/Import ban despite regular supply from overseas.

However, no quotes were available for new crop of Australia Chana (2017) for October-November and November-December shipment due to the fluctuation in the market.

Chana for December delivery on National Commodity and Derivatives Exchange (NCDEX) was settled lower on Friday at 2.6 percent or Rs 123 down at Rs 4,660/100kg. The contract had slide to Rs 4,640 and touched a high of Rs 4,812.

Statewise Rabi Chana Sowing Up 43.33 % As On Nov 8 Vs Same Period Last Yr (LAKH HA). Maharashtra:4.33 Vs 1.74, Rajasthan:6.47 Vs 6.76, Karnataka:9.93 Vs 7.91, Madhya Pradesh:20.19 Vs 11.79, Uttar Pradesh:3.11 Vs 2.37, Telanagana:0.43 Vs 0.39, Andhra Pradesh:1.66 Vs 1.37, Haryana:0.28 Vs 0.23, Total:47.2 Vs 32.93.

Australian Chana dal was priced higher by Rs 100 at Rs 6,200/100 Kg following firm trend in raw Chana, but no actual trade was reported from wholesalers/retailers counters and millers were active to liquidate their stocks. Domestic Chana dal of Maharashtra also ruled firm at Rs 6,300 and regular Chana dal at Rs 6,200/100Kg. On other hand, Chana besan variety offered unchanged at Rs 3,720/50. While, Vatana besan traded higher by Rs 250 to Rs 1,720/50 Kg and Vatana dal at Rs 2,850, up Rs 325 following uptrend on raw Matar.

Kabuli Chana prices of all counts fell by Rs 100/100Kg in Indore market amid absence of trade activity at higher rates from exporters and traders.

Imposing 50% duty on peas will not be able to support chana prices. Though impostion of duty have made peas expensive still it is almost 50% of chana price thus making it an affordable substitute for Chana. Only way Peas supply from overseas could be controlled is by imposing quantitative restrictions similar to Tur.

Prices may move up in near term as there are rumors that government may impose duty on Chana but price are unlikely to sustain at higher level as sowing nos for rabi crop are higher then last year and duty imposition on peas is not appearing to help shift in demand from peas to chana.

Imported Masoor (Mumbai):

Canada origin crimson variety and Australia origin nugget variety masoor gained by Rs 200-250 at Rs 3,350-3,500/100Kg and Rs 3,600-3,700 respectively as no sellers were active due to rumors that the Government might ban or impose duty on Masoor imports.

The exports from Canada of Red Masoor crop 2017-18 plunged from almost 276, 000 MT to over 120, 000MT. The shipment from Canada is down with compared to last year.

Decreasing import of Masoor from Canada and depleting domestic stock is likely to support domestic Masoor prices for the short term. Masoor prices were trading below MSP in domestic market. The support is likely to sustain till the arrivals of new domestic Masoor crop--which will begin in February 2018.

Rates of Canada Masoor dal of Bhiwandi mills were traded higher by Rs 50 to 4,350/100Kgs, for APMC Vashi market delivery on some buying activity.

Statewise Rabi Masoor Sowing Up 74.42 % As On Nov 8 Vs Same Period Last Yr (LAKH HA). Madhya Pradesh:3.87 Vs 2.28, Uttar Pradesh:2.68 Vs 1.33, Bihar:0.13 Vs 0.16. Total:6.82 Vs 3.91.

Imported White Pea (Mumbai):

Canada and Russia origin white pea at Mumbai were traded higher by Rs 400-450 to Rs 2,500/100Kgs and Rs 2,450 as Indian Government has imposed 50% import duty on Yellow Peas despite regular supply from overseas.

But, buyers were cautious to source the commodity at higher levels and importers were to their knees due to higher import duty to get cargo cleared from customs whose cargoes are on port or on the way to India. Delegation from Canada, expected to arrive tomorrow in India which is raising hopes of market men that the duty will be revised downwards.

Moreover, business activity in matar dal and besan was also subdued from consumption centers at higher rates despite cheaper compare to Chana dal and besan.

Statewise rabi Field Pea sowing up 15.69 % as on Nov 8 Vs same period last Yr (LAKH HA). Madhya Pradesh:1.92 Vs 1.02, Uttar Pradesh:1.69 Vs 2.02. Total:3.76 Vs 3.25.

Moong (Jaipur):

Moong priced steady in Jaipur market as per quality at Rs 4,400-4,500/100Kg during the last week on regular arrivals of new kharif Moong in major states and sufficient availability of stock.

Millers were interested to purchase superior and dry quality crop of Moong. Stockiest are sidelined as produce, which arrived in the market, were not possible to maintain stock due to inferior quality.

Similarly, Moong dal prices traded flat at Rs 5,700-5,800/100Kg.

Procurement of new Moong by government is increased at MSP prices (Rs 5575) in Rajasthan, Karnataka, Maharashtra and Telangana.

Statewise rabi Moong sowing up 9.09 % as on Nov 8 Vs same period last Yr (LAKH HA). Andhra Pradesh:0.04 Vs 0.02, Tamil Nadu:0.13 Vs 0.09, Total:0.24 Vs 0.22.

(By Commoditiescontrol Bureau +91-22-40015513)

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